The deal sees LVMH take full ownership of the French firm, with its variety of heritage perfumes, balms and solid soaps, following four years of ongoing support via its minority investment fund LVMH Luxury Ventures. The Parisian Buly brand now joined LVMH’s 75-strong ‘maisons’ or brands, including Parfums Christian Dior, Guerlain and Benefit Cosmetics. Financial details of the acquisition were not disclosed.
‘Unique identity’ to match LVMH philosophy
Relaunched in 2014, Buly was renowned for quality products and original and refined stores, LVMH said. “Thanks to a unique identity, between heritage and modernity, tradition and innovation, L’Officine Universelle Buly has become an iconic brand.”
Bernard Arnault, chairman and CEO of the LVMH Group, said: “Buly perfectly matches the philosophy that we find in the Maisons of the LVMH Group, combining an unparalleled heritage, craftsmanship and a unique experience in exceptional boutiques.”
“Its refined products enjoy a significant success around the world and we will do everything we can to ensure that this great family entrepreneurial adventure, led by Victoire de Taillac and Ramdane Touhami, continues to grow within the LVMH family,” Arnault said.
Victoire de Taillac, co-founder of Officine Universelle Buly 1803 and incoming director of product strategy, image and communication of the brand at LVMH, said the last six years had seen Buly 1803 draw inspiration from “forgotten or little-known beauty secrets” in a bid to “revive” this iconic Parisian brand.
Taillac said the LVMH acquisition would change little of that, enabling the brand to remain “true to its unique identify” within the group that housed many other “authentic and powerful” brands.
Prestige beauty and fragrance push
Potential in prestige beauty and fragrances had continued to evolve in recent months, with L’Oréal and Prada recently launching their first co-developed fragrance – part of wider plans to create a highly competitive ‘code-disrupting’ global beauty brand.
Japanese personal care titan Shiseido also recently shed assets to focus on high-end skin care – a move experts said would certainly strengthen the company’s long-term position in beauty.